TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Regulation 26: Board-Approved Tenure, Eligibility and Removal Rules for Managing Directors of Depositories to Ensure Compliance and Risk Oversight</h1> Regulation 26 mandates that appointment, renewal, and termination of a depository's managing director require prior Board approval, with qualifications and terms set by the depository per Board guidelines. Tenure is limited to a maximum of ten years and age 65, with each term not exceeding five years and fresh process after the first term. The managing director must not have conflicting shareholdings, participant roles, or concurrent positions in associated entities, subject to limited non-executive exceptions. Removal may be initiated by the governing board or the Board for regulatory non-compliance, with an opportunity of being heard. The managing director is responsible for overall management, compliance, risk management, and infrastructure adequacy.
TaxTMI 
TaxTMI 
